Pursuits
Air Berlin Sells Miles Program to Etihad for $150 Million
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Air Berlin Plc sold control of its frequent-flier program to shareholder Etihad Airways for 184.4 million euros ($243 million) in a transaction that should help the discount carrier post its first annual profit since 2007.
Air Berlin stock rose as much as 9.9 percent, the most in seven months, after the German company said that Abu Dhabi-based Etihad would buy a 70 percent stake in the Topbonus program, with proceeds to be booked against this year’s earnings.